Riordan Manufacturing’S Accounting And Finance Overview
Riordan Manufacturing’s Accounting and Finance Overview
Dr. Riordan, a professor of chemistry who had obtained several patents relative to processing polymers into high tensile strength plastic substrates, founded the company. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastic, Incorporate in 1991. The company focus was on researching and development as well as licensing of its existing patents, but in 1992, Dr. Riordan obtained venture capital, which he used to purchase a fan manufacturing plant in Pontiac, Michigan, and the company name was change to Riordan Manufacturing Incorporate(RMI). The company also expanded into the production of plastic beverage containers in 1993 with the purchase of a plant in Albany, GA. The fan portion grew astonishingly well and it was moved to China in 2000. With this move, the Pontiac, MI plant was retooled to make custom plastic components. These components range from common plastic parts to important......
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Approximate Word Count: 2559
Approximate Pages: 11 (250 words per double-spaced page)
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